… WHO IS NOW LIVING IN CHARLESTON
|| By FITSNEWS || This weekend’s editions of The Wall Street Journal carried the bizarre story of Alexander Chatfield Burns – who claimed to be a Yale graduate and Mayflower descendant but in reality was nothing but a white collar scam artist.
Why do we care? Well, Burns duped a pair of South Carolina insurers out of tens of millions of dollars … while donating big bucks to the 2014 reelection campaign of governor Nikki Haley.
According to Delaware officials, Burns’ private equity firm – Southport Lane Management LLC – made off with millions of dollars in insurance holdings which it replaced with assets that were “illiquid, grossly over-valued or hard to value, worthless, and in some cases non-existent.”
“Insurance-company losses total nearly $250 million, based on write-downs taken, while insurers still hold tens of millions of dollars in other questionable assets, according to insurance regulatory filings and court documents,” reporters Mark Maremont and Leslie Scism of the Journal reported.
Wow …
Roughly a year ago Burns checked himself into a mental hospital in New York. Sometime over the last twelve months he relocated to Charleston, S.C. – which those who have ever watched the reality television show Southern Charm know might as well be a mental hospital.
Anyway …
What led Burns to the Palmetto State?
Well, according to Maremont and Scism’s piece …
One of the South Carolina insurers for which (Burns)’ company managed trust money booked a $113 million loss from it in last year’s third quarter. Two other insurers that Southport either owned or managed money for also had about $40 million face value of illiquid assets.
Ouch …
In 2013, Burns hosted a campaign fundraiser for Haley in New York City – raising nearly $30,000 from entities affiliated with his firm. Of course Haley’s office told the Journal that she and Burns “didn’t discuss state business at the fundraiser, and he never sought help with insurance matters during the several times they met.”
Wait … what?
How many times did they meet? And if they didn’t discuss state business at the fundraiser, did they discuss it when they weren’t at the fundraiser? And if Burns never sought help from Haley during one of their “several” face-to-face meetings, did he do so over the phone?
Seems like a pretty carefully worded “non-denial denial” if you ask us …
30 comments
So what’s new?
Wasn’t Danny Frazier a big fund raiser for Haley too?
And, that Indian guy in Florida, with the private jet, used by Haley !
Haley’s improper (unethical/criminal) association with Lexington Medical and Wilbur Smith?
Yeah, the Florida Indian guy, with the corporate jet he let NIMRATA ride.
Wasn’t his business in healthcare insurance?
All insurance is medical insurance. All insurance is car insurance. All insurance is liability insurance. All insurance is home owners, business, personal liability, construction, medical … insurance.
No matter the pretty ribbon, the certified paper, the witnessed fluff and arm waving, all insurance is at base a financial scheme to separate a fearful rate payer from their hard earned.
The idea is to “protect” the rate payers from the trial lawyers … using fear and terror as the stick and a supposed big payout as the carrot.
This is why so many insurgence peddlers are intimately involved with poli-wogs … Shirley.
Yet “conservatives” like you are all”concerned” about how much taxes insurance companies pay.
Perhaps your “compassion” for anything other thanthe wealthy could be better spent elsewhere?
And Haley’s “butt buddy”, Bloody Bitch Elinor Kitzman, was Sanford’s and Haley’s go to girl for all things unsavory.
What the hell are you talking about?
Talking about insurance as a business, generally a scam on the poor and middle classes.
The rich seldom buy any insurance of any kind. They prefer to “self insure” by having a platoon of attorneys who protect them and a cash reserve set aside for direct payments of bills.
Little known: One can invest in an insurance company and get all the benefits of that company’s insurance programs and get a bit of the profits too!
Haley the road pothole queen of South Carolina.
Peanuts compared to Democrat bundler John Corzine…how many billions did he “disappear”? $2 or $3,000,000,000.000?
Does not matter, they are all crooked as a dog’s hind leg.
I warned you about Haley and so did John Raney (God rest his soul)!
You were also warned about Obama, Clinton, Bob Peeler, Thomas Ravenel and Richard Eckstrom!!!
The settlement between Haley and Lexington Medical Center is unfortunately for all under seal. What does Haley and the hospital have to hide? Burns gets protected in SC and Westbrook of LMC gets appointed to USC board. SC Policy Council should be all over this.
Fits, you think burns may have gotten into her and you cannot handle it, can you? Well, that’s life and I am sure you know what I mean many times over. just saying
Q: What’s the difference in Nikki Haley and a 1967 Harley?
A: Not everybody has ridden a 67 Harley.
Sorry no room left for Females who seem to “demand “Mint. Juleps and boiled p-nuts, orange is the New Black.
Every time I see this woman’s picture I see this:
https://i.imgflip.com/j5wi5.jpg
https://midlifemomentsdotme.files.wordpress.com/2015/02/ill-get-you-my-pretty.jpg
FREAKIN AWESOME HAHAHAHAH!!!
NOT TOTO TOO..?? NOOOOOO..!!
Her ASS-ETT’s peaked about 6 years ago, and been failing fast. By VP selection time she will WAY over the hill.
No doubt he will be the next head of the South Carolina Investment Commission!
When FITS’ tales are so convoluted and arcane…it severely discredits whatever it is he is trying to say…
IOW: FITS is not talented enough as a writer – or such a bad one – to make his point…or this is just another case of this Delusional MoFo reaching for more Bull-$#!t because Haley has kicked his @$$…yet again….
Sure the handful of Dumb@$$#$ who are just as ignorant as you will cheer you on…but you have noticed there are no NEW converts in your gaggle of conspiracy kooks…
And it just seems to get more whacked as time passes…
Wow! A failed blogger is telling Fits he’s a bad writer? Ahahahahahahahahahahahahaha!!!
Does Trikki have any friends who are NOT shady?
My thoughts regariding Mrs. Haley is that John Rainey was not a rash man, he was very, very measured, trully loved SC and was uncompromissing about this, I challenge anyone to visit his grave, for a man of his accomplisments his grave site speaks for the absolute simplicity of the man. It he said ” Haley was corupt to the core” he knew what he spoke of. John Rainey would not say this publicaly if he was not sure, with absolutly nothing to gain, except to protect the State, The fact, that Haley’s lawyers locked him up during the hearings, did not permit him to hear or speak, slanded his good name, and played the victim in a book, speaks volumes to me. Haley recognized that Rainey was the only man in State with the means and courage to fight her, she knew he could not be bought, compromissed, used and she tried her best to hurt him to the core. She is malicious, dangerous, underhanded, vindictive, and will do anything to win, She has used So. Carolina as a stepping stone to higher ambitions. At the end of the day the thruth will all come out. When Rainey and she met, she met her nemesis and she knew it. The question is…… is there anyone in State that will take up the fight? Where have all the “knights in shinnig armor” gone?
“She is malicious, dangerous, underhanded, vindictive, and will do anything to win,….”
Ditto for Jean Toal.
Will, isn’t it true you refused to let her leave her hubby for you? Instead, you ended up with a nice girl. Well done.
FITS – you should follow the FOIA paper trail on this guy at the SC Dept. of Insurance. And didn’t Kitzman go to work for some insurance companies in NY after she departed Texas, after failing to be confirmed as the Texas Insurance Commissioner? Maybe Kitzman was working for this crook. Maybe Kitzman, with her knowledge of insurance companies in SC, given her prior job as SC Insurance Commissioner, and directed some of her contacts to this creep, he wind up running those companies, and he pays Trikki Nikki off with campaign cash.
She was raising money for Trikki Nikki, he was donating money to Trikki Nikki, she was once the top regulator of insurance companies in SC, he was running South Carolina insurance companies. All just a strange bunch of coincidences? Unlikely…. See what the SCDOI has on this guy, his companies, and those that he nearly ruined here. Find out if Kitzman was working for him
The article says a former Arkansas Insurance Commissioner was workin g for him, so it would not shock if Kitzman, a former SC Insurance top regulator was alos.working with him.
Burns and Southport Management…huge ponzi.
Folks. The insurer that took the bath was BCBSSC via its subsidiary Companion P&C. Sellars, Pankau, Humanitarian of the year Ms Davis…are up to their eyeballs in this one. This is a much bigger scandal than anyone here realizes – how could they lose track of and fail to oversee the investment? It isn’t the regulators job to run a tight ship. Btw the losses on that insurers dealings far exceeds the report. Scratch the surface and the real stink will come out.
I met this guy. Very smooth talking and good with numbers. I could see why he could get away with a 100 million just disappearing. http://www.businessinsider.com/alexander-chatfield-burns-wsj-report-2015-3